Thinking about buying an Executive Condo (EC) but unsure where to start? We’ve compiled a comprehensive list of frequently asked questions to guide you through every step – from eligibility and financing to booking and resale. Find the answers you need and make informed decisions with confidence. If you have more questions, we’re just a call away!
An Executive Condominium (EC) is a type of public-private housing hybrid in Singapore. It is developed and sold by private developers but is subject to HDB regulations for the first 10 years. After 10 years, it becomes fully privatized and can be sold to foreigners.
To qualify for an EC, you must:
More information on EC Eligibility.
The household income ceiling for EC purchases is S$16,000 per month.
Singles must be at least 35 years old and apply under the Joint Singles Scheme with another eligible single.
Use the MSR / TDSR calculator to check how much loan you can get.
The Deferred Payment Scheme allows you to pay a 20% down payment and defer the remaining 80% until the EC is completed. However, it typically comes with a 3%–4% price premium.
Yes, you can use your CPF Ordinary Account (OA) savings for:
If you previously bought a subsidized HDB flat or EC, you must pay a Resale Levy when purchasing another EC:
You must submit an application through the developer’s sales portal during the launch period. Balloting will be conducted if applications exceed available units.
Yes, but you must sell your HDB flat within six months after receiving the keys to your EC if you purchase under the Progressive payment plan. For Deferred Payment, you will need to sell you HDB before TOP. You also must fulfil the Minimum Occupation Period (MOP). Let us not if you have not met the MOP, we are able to assist you.
At least 1 of the applicants is Singapore citizen and both are married. You can apply under Public Scheme (SC + SPR). PRs cannot purchase an EC directly from a developer. However, they can purchase a resale EC after the EC reaches its 11th year.
Yes, you must fulfill a 5-year MOP before you can sell your EC to Singapore Citizens and PRs. After 10 years, it becomes fully privatized and can be sold to foreigners.
No, you cannot rent out the whole EC unit during the MOP. However, you can rent out spare rooms.
You cannot own a private property at the time of EC purchase or within the first 5 years (MOP period). After the MOP, you can own both.
If you fail to secure financing after booking and not exercise Sales and Purchase Agreement, you may lose the 25% booking fee. If the Sale and Purchase Agreement has been exercised, the Developer is entitled to forfeit 5% of the purchase price.
Yes, but you will forfeit a percentage of the booking fee or purchase price depending on the cancellation timing.
Yes, but you will need to pay the Resale Levy when you purchase the EC.
No, you must complete the 5-year MOP before selling your EC.
At least 1 of the applicants is Singapore citizen and both are married. You can apply under Public Scheme (SC + FR). If not, foreigners can only buy an EC after it reaches its 11th year and becomes fully privatized.
